Lakewood Ranch CDD 5 Funding Reserve Analysis
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Florida Reserve Study and Appraisal, Inc.
12407 N. Florida Avenue
Tampa, FL 33612
Phone: 813.932.1588
Fax: 813.388.4189
www.reservestudyfl.com
Funding Reserve Analysis
for
Lakewood Ranch CDD 5
May 30, 2017
Tuesday, May 30, 2017 Page 1 of 38 Pages
Funding Reserve Analysis
for
Lakewood Ranch CDD 5
Table of Contents
Pages Subject
1 · · · · · · · · · · · · Report Cover Sheet
2 · · · · · · · · · · · · Table of Contents
3 to 19 · · · · · · · · · · · · Reserve Study Summary
20 to 21 · · · · · · · · · · · · Reserve Item Summary
22 to 25 · · · · · · · · · · · · Reserve Item Listing
26 to 27 · · · · · · · · · · · · Present Cost Report
28 · · · · · · · · · · · · Cash Flow
29 to 30 · · · · · · · · · · · · Assessment Summary
31 to 34 · · · · · · · · · · · · Expense Report
35 to 38 · · · · · · · · · · · · Expense Summary
Tuesday, May 30, 2017 Page 2 of 38 Pages
Florida Reserve Study and Appraisal, Inc.
12407 N. Florida Avenue
Tampa, FL 33612
Phone: 813.932.1588
Fax: 813.388.4189
www.reservestudyfl.com
May 30, 2017
Lakewood Ranch CDD 5
8175 Lakewood Ranch Blvd
Lakewood Ranch, FL 34202
Board of Supervisors,
We are pleased to present to Lakewood Ranch CDD 5 the requested Reserve Funding study. We
believe that you will find the attached study to be thorough and complete. After you have had an
opportunity to review the report you may have questions. Please do not hesitate to write or call,
we would be pleased to answer any questions you may have.
Project Description
Lakewood Ranch CDD 5 commenced operations in April 2001. The District has residential and
commercial units and contains 962 equivalent dwelling units (EDU's). The District is responsible for
maintaining infrastructure items including streets, sidewalks, and stormwater drainage. The CDD
encompasses a total site size of 1,173 acres in Lakewood Ranch, Manatee County, Florida.
Date of Physical Inspection
The subject property was physically inspected on May 18, 2017 by Paul Gallizzi and Steven Swartz.
Study Start and Study End
This Reserve Study encompasses the 2017-2018 fiscal year plus 30 years. The Study Start Date is
October 1, 2017 and the study ends on September 30, 2048.
Governing Documents
A review was made of aerials and subdivision plats for the subject property.
Depth of Study
Full Service Reserve Study with Field Inspection. A field inspection was made to verify the existing
condition of the various reserve study components, their physical condition, and to verify component
quantities. In place testing, laboratory testing, and non-destructive testing of the reserve study
components were not performed. Field measurements of component quantities were made to either
verify improvement plan take offs or determine directly the quantities of various components.
Photographs were taken of the site improvements.
Tuesday, May 30, 2017 Page 3 of 38 Pages
Prepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
Summary of Financial Assumptions
The below table contains a partial summary of information provided by Lakewood Ranch CDD 5 for
the Lakewood Ranch CDD 5 funding study. For the purpose of this report, an annual operating
budget was set to $0, as this report focuses only on reserve items.
Fiscal Calendar Year Begins October 1
Reserve Study by Fiscal Calendar Year Starting October 1, 2017
Funding Study Length 30 Years
Number of Assessment Paying Owners 962
Initial Reserves¹ $ 1,196,735
Annual Inflation Rate 2.50%
Tax Rate on Reserve Interest 0.00%
Minimum Reserve Account Balance $0
Assessment Change Period 1 Year
Annual Operating Budget $0
¹ See Appendix A
Recommended Payment Schedule
The below table contains the recommended schedule of payments for the next six years. The
projected life expectancy of the major components and the funding needs of the reserves of the
District are based upon the District performing appropriate routine and preventative maintenance for
each major component. Failure to perform such maintenance can negatively impact the remaining
useful life of the major components and can dramatically increase the funding needs of the reserves
of the District.
Proposed Assessments
Fiscal Owner Total District Annual
Proposed Reserve
Calendar Annual Reserve
Balance
Year Assessment Assessment
2018 $ 297 $ 285,700 $ 1,474,184
2019 $ 304 $ 292,843 $ 1,783,115
2020 $ 312 $ 300,164 $ 2,082,981
2021 $ 320 $ 307,668 $ 2,412,892
2022 $ 328 $ 315,359 $ 2,297,910
2023 $ 336 $ 323,243 $ 2,621,224
* Annual Reserve Payments have been manually modified.
Payments have been modified to smooth payments over time.
Fiscal Year beginning October 1,
2017
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Prepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
Reserve Study Assumptions
• Cost estimates and financial information are accurate and current.
• No unforeseen circumstances will cause a significant reduction of reserves.
• Sufficient comprehensive property insurance exists to protect from insurable risks.
• The District plans to continue to maintain the existing common areas and amenities.
• Reserve payments occur at the end of every calendar month.
• Expenses occur throughout the year, as services are provided.
Impact of Component Life
The projected life expectancy of the major components and the reserve funding needs of the District
are closely tied. Performing the appropriate routine maintenance for each major component
generally increases the component useful life, effectively moving the component expense into the
future which reduces the reserve funding payments of the District. Failure to perform such
maintenance can shorten the remaining useful life of the major components, bringing the
replacement expense closer to the present which increases the reserve funding payments of the
District. Also, some reserves items may have the phrase allowance after it. These reserve items are
something that would not be fully replaced at one time, but a small portion may have to be replaced
periodically.
Inflation Estimate
Inflation has been estimated at 2.50 percent over the course of the study.
Initial Reserves
As of September 30, 2016, there was $1,099,735 set aside for reserves. The projected reserve balance
on October 1, 2017 will be $1,196,735. These numbers were obtained from the District on the balance
sheets and the annual budget. October 1, 2017 starts the next fiscal year. September 30, 2018
marks the end of the fiscal year.
Financial Condition of District
The pooled method with inflation reserve projections estimate $296.99 per owner per year in fiscal
year 2017-2018 and $285,700 in total funding.
At the current time, the District is considered to be 59 percent funded. This represents a fairly-
funded status. The higher the percent funded, the more likely a District is to avoid a special
assessment.
The following are general measures to the health of a District based on the percent funding model: 0-
30% funded: poorly funded
30-70% funded: fairly funded
70-100% funded: well funded
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Prepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
100+% funded: very well funded
Special Assessments
No reserve items will require special assessments if the funding schedule is followed. However,
funding less than the suggested amounts will likely result in special assessments or for the
replacement of an item to be delayed.
Reserve Funding Goal
The reserve fund is set to be as close to Fully Funded as possible on an annual basis.
Study Method
Funding studies may be done in several ways, but we believe that the value of a funding study lies in
the details. "Bulk" studies are quick, usually inexpensive, and almost always border on worthless. We
believe that meaningful answers to funding studies lie in the details. This approach is pragmatic, and
allows human judgment and experience to enter into the equation.
Unless noted otherwise, the present cost of every reserve item in this report has been estimated using
the "National Construction Estimator", a nationally recognized standard, and modified by an area cost
adjustment factor. Where possible, known costs have been used. In addition, every reserve item has
been given an estimated remaining useful life, an estimated useful life when new, and has been cast
into the future to determine the inflated cost.
Equal annual payments are calculated for each reserve item based upon a payment starting year and a
payment ending year using the end of period payment method. Interest earned on accumulated reserve
funds and taxes on the reserve interest are also calculated. Initial reserve funds are consumed as
expenses occur until fully depleted, reducing annual reserve payments to a minimum. As you review
this report, we are certain that you will appreciate the level of detail provided, allowing you to review
each reserve item in detail.
Summary of Findings
We have estimated future projected expenses for Lakewood Ranch CDD 5 based upon preservation of
existing improvements. The attached funding study is limited in scope to those expense items listed in
the attached "Lakewood Ranch CDD 5 Reserve Study Expense Items". Expense items which have an
expected life of more than 30 Years are not included in this reserve study unless payment for these
long lived items overlaps the 30 Years reserve study envelope.
Of primary concern is the preservation of a positive funding balance with funds sufficient to meet
projected expenses throughout the study life. Based upon the attached funding study, it is our
professional opinion that owner monthly fees as shown in the attached "Lakewood Ranch CDD 5
Assessment Summary" will realize this goal. Some reserve items in the "Revenue Summary Table"
may not contain payments. In this analysis the initial reserves were used to make annual payments for
expense
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
items in their order of occurrence until the initial reserve was consumed. As a result reserve items
without payments may be expected, particularly in the first few years of the funding study. Reserve
items that have been paid with initial reserve funds are identified with a [FP] in the Expense Items
Sheets. An item marked [PR] is partially paid with initial reserve funds. Lakewood Ranch CDD 5
represents and warrants that the information provided to us, including but not limited to that
information contained in the attached Reserve Study Information Summary, that the maintenance
records are complete and accurate, and that we may rely upon such information and documents
without further verification or corroboration. Where the age of a particular Reserve Item (as listed in
the Reserve Study) is unknown, Lakewood Ranch CDD 5 shall provide to us Lakewood Ranch CDD
5's best-estimated age of that item. If Lakewood Ranch CDD 5 is unable to provide and estimate of a
Reserve Item's age, we shall make our own estimate of age of the Reserve Item. The Reserve Study is
created for the District's use, and is a reflection of information provided to us. This information is not
for the purpose of performing an audit, historical records, quality or forensic analyses. Any on site
inspection is not considered to be a project audit or quality inspection. The actual or projected total
presented in the reserve study is based upon information provided and was not audited.
Percent Funded
Many reserve studies use the concept of "Percent Funded" to measure the reserve account balance
against a theoretically perfect value. Percent Funded is often used as a measure of the "Financial
Health" of a District. The assumption is, the higher the percentage, the greater the "Financial
Health". We believe the basic premise of ''Fully Funded'' is sound, but we also believe that the
validity of the Fully Funded value must be used with caution.
To answer the question, some understanding of Percent Funded is required. Fully Funded is the sum
of the depreciation of all the components by year. To get the Percent Funded, divide the year end
reserve balance by the Fully Funded value and multiply by 100 to get a percentage. The concept of
Fully Funded is useful when the reserve study is comprehensive, but misleading when the reserve
study is superficial or constrained. As a result, we recommend that the statement "Percent Funded" be
used with caution.
Keeping Your Reserve Study Current
We believe that funding studies are an essential part of property management. People and property are
constantly changing and evolving. As a result, the useful life of a funding study is at best a few years,
and certainly not more than five years. This reserve study should be updated:
• At least once every few years
• At changes in the number of assessment paying owners
• Before starting new improvements
• Before making changes to the property
• After a flood or fire
• After the change of ownership or management
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
• After Annexation or Incorporation
Items Beyond the Scope of this Report
• Building or land appraisals for any purpose.
• State or local zoning ordinance violations.
• Building code violations.
• Soils conditions, soils contamination or geological stability of site.
• Engineering analysis or structural stability of site.
• Air quality, asbestos, electromagnetic radiation, formaldehyde, lead, mercury, radon, water quality
or other environmental hazards.
• Invasions by pests, termites and any or all other destroying organisms, insects, birds, bats or animals
to buildings or site. This study is not a pest inspection.
• Adequacy or efficiency of any system or component on site.
• Specifically excluded reserve items.
• Septic systems and septic tanks.
• Buried or concealed portions of swimming pools, pool liners, Jacuzzis and spas or similar items.
• Items concealed by signs, carpets or other things are also excluded from this study.
• Missing or omitted information supplied by the Lakewood Ranch CDD 5 for the purposes of
reserve study preparation.
• Hidden improvements such as sewer lines, water lines, irrigation lines or other buried or concealed
items.
Paving Notes
Asphalt paved roads and parking areas have a varying expected life from approximately 15 years to 30
years. It is typical to assume an expected life of 22 years in the District for most of the streets and 18
years for highly trafficked areas. As roads age, this physical condition can be evaluated and the
expected remaining life of the roads can be re-evaluated.
The streets in Lakewood Ranch CDD 5 are in good overall condition. There have been a few areas
that have been resurfaced: Arnold Palmer Green south of the golf entrance and Legacy Blvd south of
the golf entrance to Masters Ave. The streets were grouped by condition and remaining life in the
following ways:
Area Group 1: Arnold Palmer Green south of the golf entrance and Legacy Blvd south of the golf
entrance - good condition, was resurfaced approximately 2013, 14 years remaining life.
Area Group 2: Arnold Palmer Green north of golf entrance and extending all of the way around to
Masters Ave - good condition overall, one small area of settlement and cracking, 7 years remaining
life.
Area Group 3: Players Drive - average condition overall, the area near the gate has some alligator
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
cracking and may require some patching in the next couple of years, the rest of the street has limited
wear, 6 years remaining life.
Area Group 4: Legacy Blvd from golf entrance extending east to Arnold Palmer Green- good
condition, limited wear, 7 years remaining life.
Area Group 5: Residential streets which includes: La Cantera Cir, Matanzas Pl, Belmont Ct, Forsgate
Pl, Dominion Ln, Deacons Pl, Elgin Ter, Brier Creek Ct, Whitewater Pl, Teal Creek Gl, Kenswick Ln,
Lost Key Pl, Kingsmill Ct, Kildare Pl, Palmers Creek Ter, Pasadena Gl, Legends Walk Ter, Oasis Ter,
Red Rock Pl, Desert Ridge Gl, Mizner Reserve Ct, Milan Ter, Riviera Cv, Prsedio Gl, Blythefield
Ter, Rigby Ct, Players Dr, Montclair Pl, Abby Gl, Sienna Lp, Villamora Pl, Orchid Island Pl,
Windward Cv, Portmarnock Pl, Mathern Ct, Ashland Gl, Derby Ct, Rosehall Cv, Twin Hills Ter,
Treesdale Gl, Sandhills Pl, Suntree Gl, Arnold Palmer Gr, Stone Ridge pl, Lake Forest Gl - good
condition overall, there are some area small areas of cracking and a few areas have been patched, most
streets exhibit limited wear, 9 years remaining life.
Area Group 6: Street Pavers - overall good condition, there are small paver areas throughout CDD 5
and 4,516 SF in total, 17 years remaining life.
Pond Banks Notes
Drainage ponds require routine and non-routine maintenance. Routine maintenance includes mowing
debris removal and catch basin cleaning. Mowing on a regular basis enhances the aesthetics of the
area as well as helping to prevent erosion. Proper mowing of the banks helps the ground cover
maintain a healthy root system, which minimizes erosion. Trash, debris, and litter removal reduces
obstructions to inlets and outlets allow the storm water system to function as designed. Cleaning catch
basins is also considered routine maintenance. For the purpose of this reserve study, the cost of
routine maintenance is not a reserve item.
Non-routine maintenance is a reserve item. Non-routine maintenance includes bank erosion and
stabilization, sediment removal, and structural repairs and replacement. From time to time, some of
these ponds may encounter erosion of their banks and require repairs. All ponds react differently due
to original construction, slope of the bank, soil or environmental conditions, and other factors.
In Lakewood Ranch CDD 5, there are 92 retention ponds for stormwater drainage. These ponds are
estimated to have 93,473 linear feet of shoreline area. During the site inspection, we observed most
shorelines in good condition and a few spots of minor to moderate erosion. It is not likely that all of
the shoreline area will erode and need to be replaced. We have estimated that approximately 5 percent
of the shoreline will erode and need refurbishment over a 5 year period. An erosion control reserve
for repair of ponds is necessary for the proper upkeep in the District. This number can be adjusted in
future reserve planning if necessary.
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Sidewalk Notes
Most of the sidewalk has an indefinite life. However, certain small sections may need maintenance or
to be replaced due to problems such as tree roots uprooting the sidewalk. It is our estimate that 5
percent of the cost new of the sidewalk be set aside over a 5-year period to reserve for these repairs.
There is approximately 443,000 SF of sidewalk on the District grounds. The estimated replacement
cost new is approximately $2,215,000, which would result in a sidewalk repair reserve of $110,800
over a 5-year period.
Stormwater Drainage Notes
Lakewood Ranch CDD 5 has a large land area comprising 962 units encompassing 1,173 acres. The
drainage for the community is comprised of inlets, drainage pipes, and retention ponds.
The ponds have been constructed to engineering standards that include proper slopes and shore line
stabilization which includes erosion protection and approved backfill materials such as soils with a
high clay content covered within 2 inches of sand.
The entire residential area including all roads and open areas have a complete drainage system.
Overall, there are 194 curb inlets, 125 manholes, 119 end sections, 37 grate inlets, and 25 control
structures. Additionally, there is 45,206 feet of reinforced concrete piping ranging in size from an 15
inch diameter to a 42 inch diameter.
Lakewood Ranch CDD 5 Storm Water Pipes
Concrete:
Diameter Length Cost/LF Amount
15" 1280' 48.00 $ 61,440
18" 5022' 60.00 $ 301,320
24" 13624' 84.00 $1,144,416
30" 14286' 108.00 $1,542,888
36" 5553' 132.00 $ 732,996
42" 5441' 156.00 $ 848,796
Other Drainage:
Curb Inlets 194@3500 = $679,000
Grate Inlets 37@3000 = $111,000
End Sections 119@1800 = $214,200
Control Structures 25@3500 = $87,500
Manholes 125@2650 = $331,250
Grand Total $6,054,806
Tuesday, May 30, 2017 Page 10 of 38
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
In general, the drainage system including drainage structures and drainage pipes have a long lifespan.
These improvements, however, may encounter problems from natural causes such as settlement or tree
roots and man made causes such as excavations or poor original design or poor construction. It has
therefore been deemed necessary to set up a reserve for repair and replacement of the District-owned
drainage improvements.
For the purpose of this reserve study, it is our opinion that 2.5 percent of the original system cost
should be set aside for reserves over a 5 year period, which would result in a reserve over that time of
$151,400. These reserves can also be used for deferred maintenance of the storm drainage system, as
some minor problems may occur at various times. The amounts shown in this reserve study should be
analyzed and adjusted in future reserve studies based upon actual District expenditures for such items.
Irrigation Notes
Lakewood Ranch CDDs 1, 2, 4, and 5 have a development wide irrigation system that irrigates
common areas owned by the Districts. The irrigation system is complex and effective. The water is
purchased through Braden River Utilities. The CDDs are not responsible for golf course irrigation.
Most of the irrigation system has been upgraded to a 2-wire, modern system with Tukor controllers.
The cost of the system upgrade was approximately $150,000. It is estimated that 85% of the system is
on the 2-wire system. Each controller in this system is able to control several zones. The remaining
15%, are small battery-powered nodes that control only 1-4 zones per node.
Irrigation piping throughout the development is sized for its water volume requirements. The pipe is
PVC and pipe sizes range from 2" to 16". Along main thoroughfares, the piping is typically 8" or 10"
inches, and along secondary streets the piping is mostly 4" or 6". The underground piping is in good
condition and has an indefinite life.
The wiring and the valves are in average condition and are constantly being repaired and replaced as
necessary, but this is typical of any complex and well-maintained irrigation system.
Overall, the system is in average, age-appropriate condition. For the purpose of reserves, we have
given each District a $40,000 upgrade and modernization allowance in 10 years. These numbers can
be adjusted in future reserve planning if necessary.
Statement of Qualifications
Paul Gallizzi and Steven Swartz are professionals in the business of preparing reserve studies and
insurance appraisals for community associations. We have provided detailed analysis of over
300,000 apartment, villa, townhome, and condominium units. We have prepared insurance appraisals
and reserve studies for all types of community associations including high rise condominiums, mid-
rise condominiums, garden-style condominiums, townhouse developments, single family homeowners
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
associations, etc. We both hold engineering degrees from fully accredited universities. Paul Gallizzi
is a State Certified General Real Estate Appraiser License Number RZ 110 and a State Certified
General Contractor License Number CGC 019465. Steven Swartz is a designated Reserve Specialist,
RS No.214, from the Community Associations Institute as well as a State Certified General Real
Estate Appraiser License Number RZ 3479.
Conflict of Interest
As the preparers of this reserve study, we certify that we do not have any vested interests, financial
interests, or other interests that would cause a conflict of interest in the preparation of this reserve
study.
We would like to thank Lakewood Ranch CDD 5 for the opportunity to be of service in the
preparation of the attached Funding Study. Again, please feel free to write or call at our letterhead
address, if you have any questions.
Prepared by:
Paul Gallizzi Steven M. Swartz, RS
Enclosures:
6 Pages of Photographs Attached
APPENDIX "A" - Summary of Reserve Accounts
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
Riviera Cove Wooden Gazebo Riviera Cove Wooden Gazebo, Note Chipping Wood
Vinyl Fence on LaCantera Vinyl Fence on Lorraine Rd
Vinyl Split Rail Fence on Lorraine Rd Exterior Side of Masonry Wall on Hidden River Trail
Tuesday, May 30, 2017 Page 13 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
Interior Side of Masonry Wall on Hidden River Trail Typical Entrance Monument
Typical Mail Station Players and Lorraine Entrance
Gate Operator Transponder Receiver
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
Barrier Arms and Operators Typical Pond
Typical Pond Typical Sidewalk
Stormwater Drainage Curb Inlet Paving, Arnold Palmer Green, New Section
Tuesday, May 30, 2017 Page 15 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
Paving, Legacy Blvd, New Section Arnold Palmer Green Original Section
Arnold Palmer Green Original Section, Note Deterioration in Paving, Players Dr
small area
Paving, Players Dr Paving, Legacy Blvd, Original Section
Tuesday, May 30, 2017 Page 16 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Summary - Continued
Paving, Legacy Blvd, Original Section Paving, LaCantera Cir
Paving, Belmont Pl Paving, Brier Creek Ct
Paving, Kenswick Ln Paving, Kingsmill Ct
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
Paving, Legends Walk Ter Paving, Riviera Cove
Paving, Abbey Glen Paving, Twin Hills Cv
Paving, Twin Hills Cv, Note Settlement Paving, Stone Ridge Pl
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Lakewood Ranch CDD 5 Funding Study Summary - Continued
APPENDIX "A"
Summary of Reserve Accounts
Account Description Amount Interest Rate Statement Date
Road Reserves $ 1,051,735.00 1.00% October 1, 2017
Special Projects $ 145,000.00 1.00% October 1, 2017
Reserve Values Used : $ 1,196,735.00 1.00% October 1, 2017
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Lakewood Ranch CDD 5 Reserve Study Expense Item Summary
Current Expected First
Estimated Repeating
Reserve Items Cost When Life When Replacement
Remaining Life Item?
New New Cost
Grounds
Riviera Cove Wooden
$ 12,600 18 Years 30 Years $ 20,251 Yes
Gazebo
Riviera Cove Wooden
$ 2,100 2 Years 15 Years $ 2,263 No
Gazebo Repair Allowance
Vinyl Picket Fence on
$ 4,200 19 Years 30 Years $ 6,921 Yes
LaCantera
Vinyl Picket Fence on
$ 26,200 15 Years 30 Years $ 39,070 Yes
Portmarnock
Vinyl Vertical Rail Fence
$ 51,660 17 Years 30 Years $ 80,981 Yes
on Brier Creek
Vinyl Vertical Rail Fence
$ 164,675 16 Years 30 Years $ 251,774 Yes
on Lorraine Rd
Vinyl Split Rail Fence on
$ 8,136 16 Years 30 Years $ 12,439 Yes
Lorraine Rd
Vinyl Vertical Rail Fence
$ 28,595 17 Years 30 Years $ 44,825 Yes
on Hidden River Trail
Paint Exterior Side of Wall
$ 21,000 0 Years 8 Years $ 21,531 Yes
on Hidden River Trail
Paint Interior Side of Wall
$ 21,000 5 Years 8 Years $ 24,395 Yes
on Hidden River Trail
Entrance Monuments
$ 88,000 15 Years 30 Years $ 131,226 Yes
Refurbishment
Mail Stations $ 361,500 10 Years 25 Years $ 475,790 Yes
Players and Lorraine Entrance
Aluminum Gates $ 18,000 12 Years 25 Years $ 24,904 Yes
Gate Operators $ 16,000 13 Years 15 Years $ 22,697 Yes
3M Transponder Receivers $ 10,000 8 Years 12 Years $ 12,520 Yes
Barrier Arms and Operators $ 16,000 11 Years 15 Years $ 21,591 Yes
Ponds
Pond Banks Erosion
$ 140,200 4 Years 5 Years $ 158,847 Yes
Control Allowance
Aerators Phased
$ 16,000 2 Years 10 Years $ 17,245 Yes
Replacement 1
Aerators Phased
$ 20,000 7 Years 10 Years $ 24,423 Yes
Replacement 2
Sidewalks
Sidewalk Repair Allowance $ 110,800 4 Years 5 Years $ 125,537 Yes
Stormwater Drainage
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Lakewood Ranch CDD 5 Funding Study Expense Item Summary - Continued
Current Expected First
Estimated Repeating
Reserve Items Cost When Life When Replacement
Remaining Life Item?
New New Cost
Stormwater Drainage
$ 151,400 4 Years 5 Years $ 171,536 Yes
Repair Allowance
Streets
Paving 1.5 Inch Asphalt
Mill and Overlay Area 1 $ 146,376 14 Years 18 Years $ 212,893 Yes
Group
Paving 1.5 Inch Asphalt
Mill and Overlay Area 2 $ 416,882 7 Years 22 Years $ 509,075 Yes
Group
Paving 1.5 Inch Asphalt
Mill and Overlay Area 3 $ 67,562 6 Years 22 Years $ 80,469 Yes
Group
Paving 1.5 Inch Asphalt
Mill and Overlay Area 4 $ 76,378 7 Years 22 Years $ 93,268 Yes
Group
Paving 1.5 Inch Asphalt
Mill and Overlay Area 5 $ 1,714,824 9 Years 22 Years $ 2,201,305 Yes
Group
Street Pavers Area 6 Group $ 22,580 17 Years 30 Years $ 35,396 Yes
Streets Signs $ 22,400 12 Years 25 Years $ 30,992 Yes
Street Light Fixtures LED $ 78,144 29 Years 30 Years $ 165,302 Yes
Street Light Fixtures
$ 4,000 17 Years 30 Years $ 6,270 Yes
Sodium
Irrigation
Irrigation Upgrades and
$ 40,000 10 Years 15 Years $ 52,646 Yes
Modernization
Expected annual inflation: 2.50%
Interest earned on reserve funds: 1.00%
Initial Reserve: $ 1,196,735
Tuesday, May 30, 2017 Page 21 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Reserve Study Expense Item Listing
Expected
Current Estimated Fiscal
Life Estimated
Reserve Items Unit Cost No Units Cost When Remaining Calendar
When Future Cost
New Life Year
New
Grounds
Riviera Cove 18 Years 2036 $ 20,251
$ 60.00 / sf 210 sf $ 12,600 30 Years
Wooden Gazebo 30 Years 2066 $ 42,838
Riviera Cove
Wooden Gazebo
$ 10.00 / sf 210 sf $ 2,100 2 Years 15 Years 2020 $ 2,263
Repair
Allowance
Vinyl Picket 19 Years 2037 $ 6,921
Fence on $ 25.00 / lf 168 lf $ 4,200 30 Years
LaCantera 30 Years 2067 $ 14,640
Vinyl Picket 15 Years 2033 $ 39,070
Fence on $ 25.00 / lf 1048 lf $ 26,200 30 Years
Portmarnock 30 Years 2063 $ 82,646
Vinyl Vertical 17 Years 2035 $ 80,981
Rail Fence on $ 35.00 / lf 1476 lf $ 51,660 30 Years
Brier Creek 30 Years 2065 $ 171,303
Vinyl Vertical 16 Years 2034 $ 251,774
Rail Fence on $ 35.00 / lf 4705 lf $ 164,675 30 Years
Lorraine Rd 30 Years 2064 $ 532,590
Vinyl Split Rail 16 Years 2034 $ 12,439
Fence on $ 18.00 / lf 452 lf $ 8,136 30 Years
Lorraine Rd 30 Years 2064 $ 26,313
Vinyl Vertical
17 Years 2035 $ 44,825
Rail Fence on
$ 35.00 / lf 817 lf $ 28,595 30 Years
Hidden River
30 Years 2065 $ 94,820
Trail
0 Years 2018 $ 21,531
Paint Exterior 2026 $ 26,293
Side of Wall on
$ 0.75 / sf 28000 sf $ 21,000 8 Years 2034 $ 32,107
Hidden River 8 Years
Trail 2042 $ 39,208
2050 $ 47,878
5 Years 2023 $ 24,395
Paint Interior
Side of Wall on 2031 $ 29,790
$ 0.75 / sf 28000 sf $ 21,000 8 Years
Hidden River 8 Years 2039 $ 36,377
Trail
2047 $ 44,422
Entrance 15 Years 2033 $ 131,226
Monuments $ 2,000 ea 44 $ 88,000 30 Years
Refurbishment 30 Years 2063 $ 277,589
Mail Stations $ 1,500 ea 241 $ 361,500 10 Years 25 Years 2028 $ 475,790
Tuesday, May 30, 2017 Page 22 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Reserve Study Expense Item Listing - Continued
Expected
Current Estimated Fiscal
Life Estimated
Reserve Items Unit Cost No Units Cost When Remaining Calendar
When Future Cost
New Life Year
New
Mail Stations $ 1,500 ea 241 $ 361,500 25 Years 25 Years 2053 $ 888,314
Players and Lorraine Entrance
12 Years 2030 $ 24,904
Aluminum Gates $ 4,500 ea 4 $ 18,000 25 Years
25 Years 2055 $ 46,497
13 Years 2031 $ 22,697
Gate Operators $ 4,000 ea 4 $ 16,000 15 Years 2046 $ 33,011
15 Years
2061 $ 48,012
8 Years 2026 $ 12,520
3M Transponder
$ 5,000 ea 2 $ 10,000 12 Years 2038 $ 16,895
Receivers 12 Years
2050 $ 22,799
11 Years 2029 $ 21,591
Barrier Arms
$ 4,000 ea 4 $ 16,000 15 Years 2044 $ 31,402
and Operators 15 Years
2059 $ 45,673
Ponds
4 Years 2022 $ 158,847
2027 $ 179,974
Pond Banks 2032 $ 203,910
Erosion Control $ 140,200 / total 1 total $ 140,200 5 Years
Allowance 5 Years 2037 $ 231,031
2042 $ 261,758
2047 $ 296,572
2 Years 2020 $ 17,245
Aerators Phased 2030 $ 22,137
$ 4,000 ea 4 $ 16,000 10 Years
Replacement 1 10 Years 2040 $ 28,417
2050 $ 36,479
7 Years 2025 $ 24,423
Aerators Phased 2035 $ 31,352
$ 4,000 ea 5 $ 20,000 10 Years
Replacement 2 10 Years 2045 $ 40,246
2055 $ 51,663
Sidewalks
Sidewalk Repair 4 Years 2022 $ 125,537
$ 110,800 / total 1 total $ 110,800 5 Years
Allowance 5 Years 2027 $ 142,233
Tuesday, May 30, 2017 Page 23 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Reserve Study Expense Item Listing - Continued
Expected
Current Estimated Fiscal
Life Estimated
Reserve Items Unit Cost No Units Cost When Remaining Calendar
When Future Cost
New Life Year
New
2032 $ 161,150
Sidewalk Repair 2037 $ 182,583
$ 110,800 / total 1 total $ 110,800 5 Years 5 Years
Allowance 2042 $ 206,867
2047 $ 234,381
Stormwater Drainage
4 Years 2022 $ 171,536
2027 $ 194,351
Stormwater
2032 $ 220,200
Drainage Repair $ 151,400 / total 1 total $ 151,400 5 Years
Allowance 5 Years 2037 $ 249,487
2042 $ 282,669
2047 $ 320,264
Streets
Paving 1.5 Inch
14 Years 2032 $ 212,893
Asphalt Mill and
$ 1.20 / sf 121980 sf $ 146,376 18 Years
Overlay Area 1
18 Years 2050 $ 333,726
Group
Paving 1.5 Inch
7 Years 2025 $ 509,075
Asphalt Mill and
$ 1.20 / sf 347402 sf $ 416,882 22 Years
Overlay Area 2
22 Years 2047 $ 881,852
Group
Paving 1.5 Inch 6 Years 2024 $ 80,469
Asphalt Mill and
$ 1.20 / sf 56302 sf $ 67,562 22 Years 2046 $ 139,393
Overlay Area 3 22 Years
Group 2068 $ 241,465
Paving 1.5 Inch
7 Years 2025 $ 93,268
Asphalt Mill and
$ 1.20 / sf 63648 sf $ 76,378 22 Years
Overlay Area 4
22 Years 2047 $ 161,565
Group
Paving 1.5 Inch
9 Years 2027 $ 2,201,305
Asphalt Mill and
$ 1.20 / sf 1429020 sf $ 1,714,824 22 Years
Overlay Area 5
22 Years 2049 $ 3,813,236
Group
Street Pavers 17 Years 2035 $ 35,396
$ 5.00 / sf 4516 sf $ 22,580 30 Years
Area 6 Group 30 Years 2065 $ 74,875
12 Years 2030 $ 30,992
Streets Signs $ 200 ea 112 $ 22,400 25 Years
25 Years 2055 $ 57,863
Tuesday, May 30, 2017 Page 24 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Reserve Study Expense Item Listing - Continued
Expected
Current Estimated Fiscal
Life Estimated
Reserve Items Unit Cost No Units Cost When Remaining Calendar
When Future Cost
New Life Year
New
Street Light
$ 444 ea 176 $ 78,144 29 Years 30 Years 2047 $ 165,302
Fixtures LED
Street Light 17 Years 2035 $ 6,270
$ 500 ea 8 $ 4,000 30 Years
Fixtures Sodium 30 Years 2065 $ 13,264
Irrigation
Irrigation 10 Years 2028 $ 52,646
Upgrades and $ 40,000 / total 1 total $ 40,000 15 Years 2043 $ 76,570
Modernization 15 Years
2058 $ 111,365
Expected annual inflation: 2.50% Interest earned on reserve funds: 1.00% Initial Reserve: $ 1,196,735
Tuesday, May 30, 2017 Page 25 of 38 PagesPresent Costs
Category Item Name No Units Unit Cost Present Cost
Riviera Cove Wooden Gazebo 210 sf $ 60.00 / sf $ 12,600.00
Riviera Cove Wooden Gazebo
210 sf $ 10.00 / sf $ 2,100.00
Repair Allowance
Vinyl Picket Fence on LaCantera 168 lf $ 25.00 / lf $ 4,200.00
Vinyl Picket Fence on
1048 lf $ 25.00 / lf $ 26,200.00
Portmarnock
Vinyl Vertical Rail Fence on Brier
1476 lf $ 35.00 / lf $ 51,660.00
Creek
Vinyl Vertical Rail Fence on
4705 lf $ 35.00 / lf $ 164,675.00
Lorraine Rd
Grounds Vinyl Split Rail Fence on
452 lf $ 18.00 / lf $ 8,136.00
Lorraine Rd
Vinyl Vertical Rail Fence on
817 lf $ 35.00 / lf $ 28,595.00
Hidden River Trail
Paint Exterior Side of Wall on
28000 sf $ 0.75 / sf $ 21,000.00
Hidden River Trail
Paint Interior Side of Wall on
28000 sf $ 0.75 / sf $ 21,000.00
Hidden River Trail
Entrance Monuments
44 $ 2,000.00 ea $ 88,000.00
Refurbishment
Mail Stations 241 $ 1,500.00 ea $ 361,500.00
Grounds Sub Total = $ 789,666.00
Aluminum Gates 4 $ 4,500.00 ea $ 18,000.00
Players and Lorraine Gate Operators 4 $ 4,000.00 ea $ 16,000.00
Entrance 3M Transponder Receivers 2 $ 5,000.00 ea $ 10,000.00
Barrier Arms and Operators 4 $ 4,000.00 ea $ 16,000.00
Players and Lorraine Entrance Sub Total = $ 60,000.00
Pond Banks Erosion Control
1 total $ 140,200.00 / total $ 140,200.00
Allowance
Ponds
Aerators Phased Replacement 1 4 $ 4,000.00 ea $ 16,000.00
Aerators Phased Replacement 2 5 $ 4,000.00 ea $ 20,000.00
Ponds Sub Total = $ 176,200.00
Sidewalks Sidewalk Repair Allowance 1 total $ 110,800.00 / total $ 110,800.00
Stormwater Drainage Repair
Stormwater Drainage 1 total $ 151,400.00 / total $ 151,400.00
Allowance
Tuesday, May 30, 2017 Page 26 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Present Costs - Continued
Category Item Name No Units Unit Cost Present Cost
Paving 1.5 Inch Asphalt Mill and
121980 sf $ 1.20 / sf $ 146,376.00
Overlay Area 1 Group
Paving 1.5 Inch Asphalt Mill and
347402 sf $ 1.20 / sf $ 416,882.40
Overlay Area 2 Group
Paving 1.5 Inch Asphalt Mill and
56302 sf $ 1.20 / sf $ 67,562.40
Overlay Area 3 Group
Paving 1.5 Inch Asphalt Mill and
Streets 63648 sf $ 1.20 / sf $ 76,377.60
Overlay Area 4 Group
Paving 1.5 Inch Asphalt Mill and
1429020 sf $ 1.20 / sf $ 1,714,824.00
Overlay Area 5 Group
Street Pavers Area 6 Group 4516 sf $ 5.00 / sf $ 22,580.00
Streets Signs 112 $ 200.00 ea $ 22,400.00
Street Light Fixtures LED 176 $ 444.00 ea $ 78,144.00
Street Light Fixtures Sodium 8 $ 500.00 ea $ 4,000.00
Streets Sub Total = $ 2,549,146.40
Irrigation Upgrades and
Irrigation 1 total $ 40,000.00 / total $ 40,000.00
Modernization
Totals = $ 3,877,212.40
Tuesday, May 30, 2017 Page 27 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Modified Cash Flow Analysis
Fiscal
Annual Annual Annual Net Reserve
Calendar % Funded
Assessment Interest Expenses Funds
Year
2018 $ 285,700 $ 13,280 $ 21,531 $ 1,474,184 67.3%
2019 $ 292,843 $ 16,088 $ 1,783,115 72.7%
2020 $ 300,164 $ 19,211 $ 19,508 $ 2,082,981 75.7%
2021 $ 307,668 $ 22,244 $ 2,412,892 79.3%
2022 $ 315,359 $ 25,578 $ 455,920 $ 2,297,910 68.3%
2023 $ 323,243 $ 24,465 $ 24,395 $ 2,621,224 80.6%
2024 $ 331,324 $ 27,735 $ 80,469 $ 2,899,814 80.8%
2025 $ 339,608 $ 30,559 $ 626,767 $ 2,643,214 68.1%
2026 $ 348,098 $ 28,032 $ 38,813 $ 2,980,531 82.2%
2027 $ 356,800 $ 31,445 $ 2,717,863 $ 650,914 16.4%
2028 $ 365,720 $ 8,190 $ 528,436 $ 496,388 30.9%
2029 $ 374,863 $ 6,687 $ 21,591 $ 856,347 60.1%
2030 $ 384,235 $ 10,329 $ 78,033 $ 1,172,878 66.3%
2031 $ 393,841 $ 13,539 $ 52,486 $ 1,527,771 73.8%
2032 $ 403,687 $ 17,133 $ 798,153 $ 1,150,438 47.6%
2033 $ 413,779 $ 13,406 $ 170,296 $ 1,407,328 69.9%
2034 $ 424,123 $ 16,023 $ 296,320 $ 1,551,153 68.8%
2035 $ 434,726 $ 17,510 $ 198,824 $ 1,804,565 75.8%
2036 $ 445,594 $ 20,094 $ 20,251 $ 2,250,002 85.8%
2037 $ 456,734 $ 24,599 $ 670,021 $ 2,061,314 67.4%
2038 $ 468,153 $ 22,765 $ 16,895 $ 2,535,337 88.8%
2039 $ 479,857 $ 27,559 $ 36,377 $ 3,006,374 90.5%
2040 $ 491,853 $ 32,324 $ 28,417 $ 3,502,135 92.3%
2041 $ 504,149 $ 37,338 $ 4,043,622 94.1%
2042 $ 516,753 $ 42,811 $ 790,501 $ 3,812,685 78.6%
2043 $ 529,672 $ 40,561 $ 76,570 $ 4,306,349 93.2%
2044 $ 542,914 $ 45,559 $ 31,402 $ 4,863,419 94.9%
2045 $ 556,486 $ 51,192 $ 40,246 $ 5,430,851 95.2%
2046 $ 570,399 $ 56,930 $ 172,404 $ 5,885,776 93.4%
2047 $ 584,659 $ 61,545 $ 2,104,358 $ 4,427,622 65.2%
2048 $ 599,275 $ 47,031 $ 5,073,927 99.8%
Totals : $ 13,142,277 $ 851,762 $ 10,116,847
¹ Cash Reserves minus Fully Funded Value
The cash distribution shown in this table applies to repair and replacement cash reserves only.
Basis of Funding Study - Modified Cash Flow
Cash reserves have been set to a minimum of $ 0
Cash Flow has been modified with the forced Fixed Payments.
Inflation = 2.50 % Interest = 1.00 % Study Life = 30 years
Initial Reserve Funds = $ 1,196,735.00 Final Reserve Value = $ 5,073,927.47
Tuesday, May 30, 2017 Page 28 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Modified Reserve Assessment Summary
Projected Assessment by Fiscal Calendar Year
Fiscal Owner Total
Annual Reserve
Calendar Annual
Assessment
Year Assessment
2018 $ 296.99 $ 285,700
2019 $ 304.41 $ 292,843
2020 $ 312.02 $ 300,164
2021 $ 319.82 $ 307,668
2022 $ 327.82 $ 315,359
2023 $ 336.01 $ 323,243
2024 $ 344.41 $ 331,324
2025 $ 353.02 $ 339,608
2026 $ 361.85 $ 348,098
2027 $ 370.89 $ 356,800
2028 $ 380.17 $ 365,720
2029 $ 389.67 $ 374,863
2030 $ 399.41 $ 384,235
2031 $ 409.40 $ 393,841
2032 $ 419.63 $ 403,687
2033 $ 430.12 $ 413,779
2034 $ 440.88 $ 424,123
2035 $ 451.90 $ 434,726
2036 $ 463.20 $ 445,594
2037 $ 474.78 $ 456,734
2038 $ 486.65 $ 468,153
2039 $ 498.81 $ 479,857
2040 $ 511.28 $ 491,853
2041 $ 524.06 $ 504,149
2042 $ 537.17 $ 516,753
2043 $ 550.59 $ 529,672
2044 $ 564.36 $ 542,914
2045 $ 578.47 $ 556,486
2046 $ 592.93 $ 570,399
2047 $ 607.75 $ 584,659
2048 $ 622.95 $ 599,275
Assessment Summary has been modified with forced Fixed Payments.
In the context of the Reserve Payment Summary, the ''Annual Reserve Payment'' corresponds with the
''Annual Revenue'' in the Cash Flow report.
Operations Payments Include an annual inflation factor of 2.50%
Number of Years of Constant Payments: 1
Tuesday, May 30, 2017 Page 29 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Assessment Summary by Fiscal Calendar Year - Continued
No of Assessed Owners: 962
Tuesday, May 30, 2017 Page 30 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study - Expenses by Item and by Fiscal Calendar Year
Item Description FY 2018 FY 2020 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037 FY 2038 FY 2039
Reserve Category : Grounds
Riviera Cove Wooden Gazebo $ 20,251
Riviera Cove Wooden Gazebo
$ 2,263
Repair Allowance
Vinyl Picket Fence on LaCantera $ 6,921
Vinyl Picket Fence on
$ 39,070
Portmarnock
Vinyl Vertical Rail Fence on
$ 80,981
Brier Creek
Vinyl Vertical Rail Fence on
$ 251,774
Lorraine Rd
Vinyl Split Rail Fence on
$ 12,439
Lorraine Rd
Vinyl Vertical Rail Fence on
$ 44,825
Hidden River Trail
Paint Exterior Side of Wall on
$ 21,531 $ 26,293 $ 32,107
Hidden River Trail
Paint Interior Side of Wall on
$ 24,395 $ 29,790 $ 36,377
Hidden River Trail
Entrance Monuments
$ 131,226
Refurbishment
Mail Stations $ 475,790
Category Subtotal : $ 21,531 $ 2,263 $ 24,395 $ 26,293 $ 475,790 $ 29,790 $ 170,296 $ 296,320 $ 125,806 $ 20,251 $ 6,921 $ 36,377
Reserve Category : Players and Lorraine Entrance
Aluminum Gates $ 24,904
Gate Operators $ 22,697
3M Transponder Receivers $ 12,520 $ 16,895
Barrier Arms and Operators $ 21,591
Category Subtotal : $ 12,520 $ 21,591 $ 24,904 $ 22,697 $ 16,895
Reserve Category : Ponds
Pond Banks Erosion Control
$ 158,847 $ 179,974 $ 203,910 $ 231,031
Allowance
Aerators Phased Replacement 1 $ 17,245 $ 22,137
Aerators Phased Replacement 2 $ 24,423 $ 31,352
Category Subtotal : $ 17,245 $ 158,847 $ 24,423 $ 179,974 $ 22,137 $ 203,910 $ 31,352 $ 231,031
Tuesday, May 30, 2017 Page 31 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Expenses by Fiscal Calendar Year - Continued
Item Description FY 2018 FY 2020 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037 FY 2038 FY 2039
Reserve Category : Sidewalks
Sidewalk Repair Allowance $ 125,537 $ 142,233 $ 161,150 $ 182,583
Reserve Category : Stormwater Drainage
Stormwater Drainage Repair
$ 171,536 $ 194,351 $ 220,200 $ 249,487
Allowance
Reserve Category : Streets
Paving 1.5 Inch Asphalt Mill and
$ 212,893
Overlay Area 1 Group
Paving 1.5 Inch Asphalt Mill and
$ 509,075
Overlay Area 2 Group
Paving 1.5 Inch Asphalt Mill and
$ 80,469
Overlay Area 3 Group
Paving 1.5 Inch Asphalt Mill and
$ 93,268
Overlay Area 4 Group
Paving 1.5 Inch Asphalt Mill and
$ 2,201,305
Overlay Area 5 Group
Street Pavers Area 6 Group $ 35,396
Streets Signs $ 30,992
Street Light Fixtures LED
Street Light Fixtures Sodium $ 6,270
Category Subtotal : $ 80,469 $ 602,343 $ 2,201,305 $ 30,992 $ 212,893 $ 41,666
Reserve Category : Irrigation
Irrigation Upgrades and
$ 52,646
Modernization
Expense Totals : $ 21,531 $ 19,508 $ 455,920 $ 24,395 $ 80,469 $ 626,767 $ 38,813 $ 2,717,863 $ 528,436 $ 21,591 $ 78,033 $ 52,486 $ 798,153 $ 170,296 $ 296,320 $ 198,824 $ 20,251 $ 670,021 $ 16,895 $ 36,377
Tuesday, May 30, 2017 Page 32 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Expenses by Fiscal Calendar Year - Continued
Item Description FY 2040 FY 2042 FY 2043 FY 2044 FY 2045 FY 2046 FY 2047
Reserve Category : Grounds
Riviera Cove Wooden Gazebo
Riviera Cove Wooden Gazebo
Repair Allowance
Vinyl Picket Fence on LaCantera
Vinyl Picket Fence on
Portmarnock
Vinyl Vertical Rail Fence on
Brier Creek
Vinyl Vertical Rail Fence on
Lorraine Rd
Vinyl Split Rail Fence on
Lorraine Rd
Vinyl Vertical Rail Fence on
Hidden River Trail
Paint Exterior Side of Wall on
$ 39,208
Hidden River Trail
Paint Interior Side of Wall on
$ 44,422
Hidden River Trail
Entrance Monuments
Refurbishment
Mail Stations
Category Subtotal : $ 39,208 $ 44,422
Reserve Category : Players and Lorraine Entrance
Aluminum Gates
Gate Operators $ 33,011
3M Transponder Receivers
Barrier Arms and Operators $ 31,402
Category Subtotal : $ 31,402 $ 33,011
Reserve Category : Ponds
Pond Banks Erosion Control
$ 261,758 $ 296,572
Allowance
Aerators Phased Replacement 1 $ 28,417
Aerators Phased Replacement 2 $ 40,246
Category Subtotal : $ 28,417 $ 261,758 $ 40,246 $ 296,572
Tuesday, May 30, 2017 Page 33 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Lakewood Ranch CDD 5 Funding Study Expenses by Fiscal Calendar Year - Continued
Item Description FY 2040 FY 2042 FY 2043 FY 2044 FY 2045 FY 2046 FY 2047
Reserve Category : Sidewalks
Sidewalk Repair Allowance $ 206,867 $ 234,381
Reserve Category : Stormwater Drainage
Stormwater Drainage Repair
$ 282,669 $ 320,264
Allowance
Reserve Category : Streets
Paving 1.5 Inch Asphalt Mill and
Overlay Area 1 Group
Paving 1.5 Inch Asphalt Mill and
$ 881,852
Overlay Area 2 Group
Paving 1.5 Inch Asphalt Mill and
$ 139,393
Overlay Area 3 Group
Paving 1.5 Inch Asphalt Mill and
$ 161,565
Overlay Area 4 Group
Paving 1.5 Inch Asphalt Mill and
Overlay Area 5 Group
Street Pavers Area 6 Group
Streets Signs
Street Light Fixtures LED $ 165,302
Street Light Fixtures Sodium
Category Subtotal : $ 139,393 $ 1,208,719
Reserve Category : Irrigation
Irrigation Upgrades and
$ 76,570
Modernization
Expense Totals : $ 28,417 $ 790,501 $ 76,570 $ 31,402 $ 40,246 $ 172,404 $ 2,104,358
Tuesday, May 30, 2017 Page 34 of 38 PagesFlorida Reserve Study and Appraisal, Inc.
12407 N. Florida Avenue
Tampa, FL 33612
Phone: 813.932.1588
Fax: 813.388.4189
www.reservestudyfl.com
May 30, 2017
Expense Summary by Year
Year Category Item Name Expense
FY 2018 Grounds Paint Exterior Side of Wall on Hidden River Trail $ 21,531
Year Annual Expense Total = $ 21,531
Grounds Riviera Cove Wooden Gazebo Repair Allowance $ 2,263
FY 2020
Ponds Aerators Phased Replacement 1 $ 17,245
FY 2020 Annual Expense Total = $ 19,508
Ponds Pond Banks Erosion Control Allowance $ 158,847
FY 2022 Sidewalks Sidewalk Repair Allowance $ 125,537
Stormwater Drainage Stormwater Drainage Repair Allowance $ 171,536
FY 2022 Annual Expense Total = $ 455,920
FY 2023 Grounds Paint Interior Side of Wall on Hidden River Trail $ 24,395
Annual Expense Total = $ 24,395
FY 2024 Streets Paving 1.5 Inch Asphalt Mill and Overlay Area 3 Group $ 80,469
Annual Expense Total = $ 80,469
Ponds Aerators Phased Replacement 2 $ 24,423
Paving 1.5 Inch Asphalt Mill and Overlay Area 2 Group $ 509,075
FY 2025 Streets
Paving 1.5 Inch Asphalt Mill and Overlay Area 4 Group $ 93,268
Streets Subtotal = $ 602,343.00
FY 2025 Annual Expense Total = $ 626,766
Grounds Paint Exterior Side of Wall on Hidden River Trail $ 26,293
FY 2026
Players and Lorraine Entrance 3M Transponder Receivers $ 12,520
FY 2026 Annual Expense Total = $ 38,813
Ponds Pond Banks Erosion Control Allowance $ 179,974
Sidewalks Sidewalk Repair Allowance $ 142,233
FY 2027
Stormwater Drainage Stormwater Drainage Repair Allowance $ 194,351
Streets Paving 1.5 Inch Asphalt Mill and Overlay Area 5 Group $ 2,201,305
Tuesday, May 30, 2017 Page 35 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Year Category Item Name Expense
FY 2027 Annual Expense Total = $ 2,717,863
Grounds Mail Stations $ 475,790
FY 2028
Irrigation Irrigation Upgrades and Modernization $ 52,646
FY 2028 Annual Expense Total = $ 528,436
FY 2029 Players and Lorraine Entrance Barrier Arms and Operators $ 21,591
Annual Expense Total = $ 21,591
Players and Lorraine Entrance Aluminum Gates $ 24,904
FY 2030 Ponds Aerators Phased Replacement 1 $ 22,137
Streets Streets Signs $ 30,992
FY 2030 Annual Expense Total = $ 78,033
Grounds Paint Interior Side of Wall on Hidden River Trail $ 29,790
FY 2031
Players and Lorraine Entrance Gate Operators $ 22,697
FY 2031 Annual Expense Total = $ 52,487
Ponds Pond Banks Erosion Control Allowance $ 203,910
Sidewalks Sidewalk Repair Allowance $ 161,150
FY 2032
Stormwater Drainage Stormwater Drainage Repair Allowance $ 220,200
Streets Paving 1.5 Inch Asphalt Mill and Overlay Area 1 Group $ 212,893
FY 2032 Annual Expense Total = $ 798,153
Vinyl Picket Fence on Portmarnock $ 39,070
Grounds
FY 2033 Entrance Monuments Refurbishment $ 131,226
Grounds Subtotal = $ 170,296.00
FY 2033 Annual Expense Total = $ 170,296
Vinyl Vertical Rail Fence on Lorraine Rd $ 251,774
Grounds Vinyl Split Rail Fence on Lorraine Rd $ 12,439
FY 2034
Paint Exterior Side of Wall on Hidden River Trail $ 32,107
Grounds Subtotal = $ 296,320.00
FY 2034 Annual Expense Total = $ 296,320
Vinyl Vertical Rail Fence on Brier Creek $ 80,981
Grounds
Vinyl Vertical Rail Fence on Hidden River Trail $ 44,825
FY 2035 Grounds Subtotal = $ 125,806.00
Ponds Aerators Phased Replacement 2 $ 31,352
Streets Street Pavers Area 6 Group $ 35,396
Tuesday, May 30, 2017 Page 36 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Year Category Item Name Expense
Streets Street Light Fixtures Sodium $ 6,270
FY 2035
Streets Subtotal = $ 41,666.00
FY 2035 Annual Expense Total = $ 198,824
FY 2036 Grounds Riviera Cove Wooden Gazebo $ 20,251
Annual Expense Total = $ 20,251
Grounds Vinyl Picket Fence on LaCantera $ 6,921
Ponds Pond Banks Erosion Control Allowance $ 231,031
FY 2037
Sidewalks Sidewalk Repair Allowance $ 182,583
Stormwater Drainage Stormwater Drainage Repair Allowance $ 249,487
FY 2037 Annual Expense Total = $ 670,022
FY 2038 Players and Lorraine Entrance 3M Transponder Receivers $ 16,895
Annual Expense Total = $ 16,895
FY 2039 Grounds Paint Interior Side of Wall on Hidden River Trail $ 36,377
Annual Expense Total = $ 36,377
FY 2040 Ponds Aerators Phased Replacement 1 $ 28,417
Annual Expense Total = $ 28,417
Grounds Paint Exterior Side of Wall on Hidden River Trail $ 39,208
Ponds Pond Banks Erosion Control Allowance $ 261,758
FY 2042
Sidewalks Sidewalk Repair Allowance $ 206,867
Stormwater Drainage Stormwater Drainage Repair Allowance $ 282,669
FY 2042 Annual Expense Total = $ 790,502
FY 2043 Irrigation Irrigation Upgrades and Modernization $ 76,570
Annual Expense Total = $ 76,570
FY 2044 Players and Lorraine Entrance Barrier Arms and Operators $ 31,402
Annual Expense Total = $ 31,402
FY 2045 Ponds Aerators Phased Replacement 2 $ 40,246
Annual Expense Total = $ 40,246
Players and Lorraine Entrance Gate Operators $ 33,011
FY 2046
Streets Paving 1.5 Inch Asphalt Mill and Overlay Area 3 Group $ 139,393
FY 2046 Annual Expense Total = $ 172,404
FY 2047 Grounds Paint Interior Side of Wall on Hidden River Trail $ 44,422
Tuesday, May 30, 2017 Page 37 of 38 PagesPrepared by Florida Reserve Study and Appraisal
Year Category Item Name Expense
Ponds Pond Banks Erosion Control Allowance $ 296,572
Sidewalks Sidewalk Repair Allowance $ 234,381
Stormwater Drainage Stormwater Drainage Repair Allowance $ 320,264
FY 2047 Paving 1.5 Inch Asphalt Mill and Overlay Area 2 Group $ 881,852
Streets Paving 1.5 Inch Asphalt Mill and Overlay Area 4 Group $ 161,565
Street Light Fixtures LED $ 165,302
Streets Subtotal = $ 1,208,719.00
FY 2047 Annual Expense Total = $ 2,104,358
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